Issue link: https://maltatoday.uberflip.com/i/1285850
maltatoday | SUNDAY • 6 SEPTEMBER 2020 13 COMMERCIAL HSBC Bank Malta connects business to Europe and beyond HSBC Bank Malta has been sup- porting AquaBioTech Group since its inception, nearly 25 years ago. Over the past quarter of a century, the International aquaculture, fisheries and aquat- ic environmental consulting, testing and development com- pany has grown into a multina- tional organisation serving cli- ents in more than fifty countries across all continents. In supporting AquaBioTech Group's growth, the bank pro- vided the business with access to its unique trade finance solutions, delivering financial support in a structured man- ner. HSBC's Global Trade and Receivables Finance team de- veloped a bespoke funding solution specifically adapted to AquaBioTech Group's trade requirements, with a focus on Import/Export financing and project financing. The bank also provided a receivables fi- nance facility which improved liquidity and credit protection giving the company the ability to conduct business anywhere whilst guarding against the im- pact of late payments and bad debts. Stefan Bonello, HSBC's Rela- tionship Manager for AquaBio- Tech Group commented: "The company had great potential right from the start but needed to build up its equity and asset base. In this scenario, it was clear that traditional financing did not meet the customer's requirements and so we used HSBC's trade finance solutions to map a way forward togeth- er. These solutions enabled our client to capture new oppor- tunities and we were able to support the group's ambitious growth strategy." Shane Hunter, founder and CEO at AquaBioTech Group, said: "Growing an international business is, of course, extreme- ly challenging. Over the years we built capacity and experi- ence, as well as a strong brand, to enable us to tender for glob- al aquaculture projects. But our greatest challenge came when we started winning mul- tiple contracts and that's when the financial support from HS- BC was extremely useful." AquaBioTech Group is now a strong and globally recognised brand within its industry. Cur- rently, the company's largest division offers design and en- gineering capabilities for the construction and management of high-tech land-based fish farms all over the world. How- ever, it is still looking to devel- op new markets and anticipates continued strong growth in the coming years as it continues to build capacity. Malta based companies who wish to learn more about how HSBC Malta can support their international growth through the bank's international pres- ence are invited to contact their Relationship Manager to discuss the range of trade finance solutions available or visit www.business.hsbc.com. mt Shane Hunter, founder and CEO at AquaBioTech Group Money management and student loans with GEMMA and BOV THE number of individuals who want to further their studies to achieve their desired careers is on the increase. However, aspi- rations may often be held back by financial challenges such as course funding, accommoda- tion, transport, living expenses and other study-related costs. These issues were recently discussed during the 'Mon- ey Management and Student Loans' Webinar, jointly organ- ised by ĠEMMA and Bank of Valletta. Explaining how students have become an important segment within the local community, David Spiteri Gingell, ĠEM- MA Team Leader, said, "Stu- dent-targeted-initiatives such as scholarships are nowadays more easily available. Howev- er, prudent planning and budg- eting of funds are critical for one to reap the benefits of such investments. Financial plan- ning should begin from one to two years before applying for a course, even if the student is aiming to take up a study loan". Tonio Ellul from Bank of Val- letta provided details about BOV products that are spe- cifically designed to support students during their educa- tion journey such as the BOV Studies Plus+, BOV Club, BOV Education Loan and BOV Graduates Package. "Our star product is undoubtedly the BOV Studies Plus+," stated El- lul. "It provides easier access to finance for students, assist- ing them to further their stud- ies and invest in a rewarding career. The BOV Studies Plus+ comes with a number of ben- efits such as a maximum loan amount of €100,000, an attrac- tive interest rate, a moratorium period of up to 5 years and no upfront contribution or collat- eral requirement." The BOV Studies Plus+ is a financing solution aimed at students and professionals seeking to further their stud- ies in Malta or abroad, under- taking full-time, part-time or distance learning courses lead- ing to MQF levels 5, 6, 7 or 8 qualifications or other interna- tionally recognised certificates. This scheme is supported by the Operational Programme II, co-funded by the European So- cial Fund and managed by the Malta Development Bank. "Obtaining a loan through this scheme does not mean that one should stop saving money or from being cost-conscious. It simply makes high-cost studies more reachable and affordable, reduces financial dependence on family and friends and can serve as a bridge until funds from scholarships, grants or any reimbursements become available," concluded Tonio Ellul. Information on the BOV Studies Plus+ can be found on https://www.bov.com/con- tent/bov-studies-plus-plus.